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As the pandemic continues to wreak havoc on real estate, industry donors are siding with Joe Biden over President Donald Trump, records show.
In Real Estate Money Talks
They have so far given $17.1 million to the former vice president’s campaign and political action committees backing him, and $15.6 million to Trump, according to the Center for Responsive Politics, a nonpartisan research group which tracks money in U.S. politics.
Trump hails from the real estate world.
Although markets have prospered under presidents of both parties, Republicans have long been regarded as more business-friendly. And Trump hails from the real estate world. Investors, however, value certainty above just about everything else — and the chaos of Trump’s first term has driven some real estate players to retract their support.
Some longtime Trump backers are holding off on donating to his campaign, while prominent figures in New York City real estate, where Trump got his start, are betting on Biden. Other firms are hedging their bets by giving to both candidates.
